How do you teach children about finance?

I am conflicted between issuing more allowance for children to cultivate habit of savings and having them spend unnecessarily.

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Thanks for this topic! It is very important to teach children about finance from the early years. Financial education is important for everyone, and here you can find more tips and thoughts on this topic: Nowadays there are a lot of books about finances for children. For example, check these:

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Teach them to save 10% everyday out of their pocket money to keep it for their future personal use like mothers day or father day presents or what ever they want to buy I future for it ! So this way they may learn savings for future, also they know the value of money !

When I was in pri school my parents made me work out a budget to determine how much pocket money I needed. I had like 10% on top of the budget for non necessities. The family teaching was - spend on what you have to, don't spend on what you shouldn't.

Teach them to manage their monies Slowly give them an increment and teach them what are essentials and what’s not. Encourage them to save what’s not spent and they will he excited to see their own money grow.

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I made them save up for things they want to buy, games they want to play and also only give them extra if they work for it, e.g. help me with housework, task or even get 10/10 at spelling

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By making him responsible for some part of budget . He sees my hubby investing. It is a kind of exposure to him

Give them an incentive to save money! Like we’re saving for your next toy etc.

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How they could have a new toys 😂